Wayfair earnings selloff a buying opportunity, says JPMorgan
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JPMorgan views the post-earnings selloff in shares of Wayfair (W) as a buying opportunity. The company’s efforts support continued share gains ahead and “spring-loaded growth whenever the market improves,” the analyst tells investors in a research note. The firm says that in the near term, Wayfair’s price and advertising investments are pressuring margins but have been largely offset by continued expense efficiency. JPMorgan keeps an Overweight rating on the shares with a $63 price target
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